York, Manchester, and Ipswich have seen the strongest rental growth across the UK in the past five years, research from ideal flatmate shows.
ideal flatmate analysed rental prices across the UK and how they have growth over the last five years, highlighting the toughest markets for tenants when it comes to financial survival.
By countries in the UK
Properties in England have seen the strongest rental growth in the past five years, rising by 15.6%.
Just behind is Scotland (14.7%), followed by Northern Ireland (11.5%).
Wales has been the most tenant-friendly country in the UK in terms of rental growth, with an increase of just 3.11% over the course of five years.
Regions of England
Regionally thereโs quite a disparity in terms of the rental growth in England.
The East of England has been by far the worst region for proportional rental growth, rising by 22.1%. The second-highest increase is the East Midlands (14.94%).
Thereโs has been growth of between 12-13% across the rest of England, with the exception of the North East, where average rents have grown the least (10.41%).
The biggest jumps by town
Typical rents in York have increased by a significant 38.1% between 2014 and 2019, rising from ยฃ749 per month to ยฃ1,034.
Close behind are Manchester (37.8%), Ipswich (37.7%) and South Gloucestershire (37.0%).
Barking and Dagenham has seen the largest increase in London at 33.2%.
Rents fall in Aberdeen, Moray, and Leeds
Rental prices havenโt increased everywhere, however.
Average rents in Aberdeen City and Moray, both in Scotland, have each fallen by 21.7% in the past five years from ยฃ923 to ยฃ723.
Meanwhile, Leeds has seen the biggest rental fall in rents in England, plunging by 18.1% from ยฃ928 to ยฃ760.
Co-founder of ideal flatmate, Tom Gatzen said, โWhile initial rental affordability may be based on the cost of renting in a given area, many renters are aware of this cost and make a choice to live there.
“However, the real squeeze in rental affordability is the continued increase in rents in many parts of the UK on an annual basis.
“While an increase of ยฃ250 over five years might not sound significant, for those renting in York and already struggling with the cost, itโs enough to price them out of the sector altogether.
“Over the last five years, the growing preference for people to share the burden and live with others rather than go it alone has been driven out of necessity rather than choice, but at least, we have better platforms, technology, and transparency to accommodate this growing trend now.โโโโโโโโ
Location | Average rental price (per month) 2014 | Average rental price (per month) 2019 | Change / growth (2014-2019) |
England | ยฃ742 | ยฃ858 | 15.6% |
Wales | ยฃ500 | ยฃ515 | 3.1% |
Scotland | ยฃ638 | ยฃ732 | 14.7% |
Northern Ireland | ยฃ549 | ยฃ612 | 11.5% |
East of England | ยฃ705 | ยฃ863 | 22.4% |
East Midlands | ยฃ542 | ยฃ623 | 14.9% |
London | ยฃ1,530 | ยฃ1,727 | 12.9% |
West Midlands | ยฃ577 | ยฃ651 | 12.8% |
South West | ยฃ695 | ยฃ784 | 12.8% |
North West | ยฃ541 | ยฃ610 | 12.8% |
South East | ยฃ873 | ยฃ980 | 12.3% |
North East | ยฃ490 | ยฃ541 | 10.4% |
Yorkshire and the Humber | ยฃ553 | ยฃ609 | 10.1% |
Rankings – best locations from 2014 to 2019 – by average rental price change/growth | |||
Location | Average rental price (per month) 2014 | Average rental price (per month) 2019 | Change / growth (2014-2019) |
York | ยฃ749 | ยฃ1,034 | 38.1% |
Manchester | ยฃ609 | ยฃ839 | 37.8% |
Ipswich | ยฃ467 | ยฃ643 | 37.7% |
South Gloucestershire | ยฃ713 | ยฃ977 | 37.0% |
Barking and Dagenham | ยฃ895 | ยฃ1,192 | 33.2% |
Dartford | ยฃ753 | ยฃ997 | 32.4% |
Epping Forest | ยฃ995 | ยฃ1,306 | 31.3% |
Newham | ยฃ1,084 | ยฃ1,422 | 31.2% |
Cambridge | ยฃ934 | ยฃ1,225 | 31.2% |
Newcastle upon Tyne | ยฃ549 | ยฃ717 | 30.6% |
Derby | ยฃ444 | ยฃ578 | 30.2% |
Redbridge | ยฃ1,003 | ยฃ1,303 | 29.9% |
Bristol | ยฃ828 | ยฃ1,070 | 29.2% |
Exeter | ยฃ757 | ยฃ976 | 28.9% |
Three Rivers | ยฃ1,055 | ยฃ1,356 | 28.5% |
Rankings – worst locations from 2014 to 2019 – by average rental price change/growth | |||
Location | Average rental price (per month) 2014 | Average rental price (per month) 2019 | Change / growth (2014-2019) |
Aberdeen City | ยฃ923 | ยฃ723 | -21.7% |
Moray | ยฃ923 | ยฃ723 | -21.7% |
Leeds | ยฃ928 | ยฃ760 | -18.1% |
Windsor and Maidenhead | ยฃ1,342 | ยฃ1,252 | -6.7% |
Bracknell Forest | ยฃ1,093 | ยฃ1,021 | -6.6% |
Torfaen | ยฃ517 | ยฃ486 | -6.0% |
Surrey Heath | ยฃ1,156 | ยฃ1,101 | -4.8% |
Doncaster | ยฃ487 | ยฃ471 | -3.3% |
Plymouth | ยฃ586 | ยฃ569 | -2.9% |
Pembrokeshire | ยฃ484 | ยฃ471 | -2.7% |
Elmbridge | ยฃ1,816 | ยฃ1,776 | -2.2% |
Redcar and Cleveland | ยฃ505 | ยฃ497 | -1.6% |
Rhondda Cynon Taf | ยฃ424 | ยฃ419 | -1.4% |
Cotswold | ยฃ951 | ยฃ939 | -1.3% |
Richmond upon Thames | ยฃ1,917 | ยฃ1,896 | -1.1% |
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